Accesing WD with PC, MacBook and Time Machine

Im trying to wrap my head around this. I want to access WD wireless pro on my network. If I format the drive in exFat will I be able to use TimeMachine with my PC and MacBooks at the same time? I connect the WD via wifi to my network and it will show up on my Macs (2) and PC? I just ordered it from Amazon and it will be here tomorrow.

Thanks in advance

I will partition it to 2 partitions. one HFS and one ExFat